Q1 2026 data from Corcoran Group and Brown Harris Stevens reveal a bifurcated Palm Beach market. Single-family homes are surging in both volume and price, while condos show more transactions but lower average prices. Land, privacy, and control are winning at the highest end.
Key Takeaways
- Palm Beach Island single-family sales volume rose 36% year-over-year, with average prices up 18% to $19.6 million.
- Palm Beach Island condo volume increased 39%, but average prices fell 14% to $2.4 million.
- West Palm Beach single-family prices jumped 49% to 52%, depending on the source, signaling strong regional demand.
Q1 2026 data from Corcoran Group and Brown Harris Stevens show that Palm Beach is not one market right now. Single-family estate product is showing major strength, while condos are telling a more mixed story. The divergence is driven by a concentration of ultraluxury single-family closings and a broader pattern of wealthy buyers prioritizing land, privacy, and estate-scale living over condominium product.
The numbers are stark. Palm Beach Island single-family sales volume rose 36% year-over-year, with average prices climbing 18% to $19.6 million and price per square foot reaching $3,674. Meanwhile, condo volume increased 39% to 110 deals, but average prices fell 14% to $2.4 million.
What drove the single-family surge?
A cluster of ultraluxury closings in January and February pushed the averages higher. Anthony Lomangino (a Trump appointee) bought Villa Flora for $76.7 million off-market in February. Michael Chu, co-founder of L Catterton, and his wife sold their oceanfront house for $58.3 million off-market in January.
These are not statistical outliers. They reflect a sustained pattern of ultra-high-net-worth buyers targeting Palm Beach Island specifically for estate-scale, ocean-to-Intracoastal properties. Days on market for single-family homes fell to 136, faster than last year.
As Larry Mastropieri explained on the Discover South Florida Podcast: "When you have $100 million sales sitting in the same market as much smaller transactions, the averages can get wild very quickly. That's why we always have to look deeper than the headline number. The average does not always tell you what the typical buyer or seller is experiencing."
Why are condos softening while volume rises?
The condo story requires breaking down the data. South End condos averaged $1.5 million (up 19%), while in-town condos averaged $3.7 million (down 14%). The in-town condo drop is the real story.
High-end in-town product is competing with single-family and losing on value proposition at the top of the market. Ultra-high-net-worth buyers at the $10 million-plus level increasingly want land, privacy, and estate scale. The condominium product, even at an average in-town price of $3.7 million, is a lesser substitute for buyers who can afford either.
Days on market for condos rose to 137, slightly longer than for single-family. The in-town decline is partly explained by the bifurcation between product quality: newer, renovated condos are absorbing well, while older or less-renovated products sit.
Navigating Palm Beach County's bifurcated market? Talk to a real estate agent in Palm Beach County who understands how single-family and condo dynamics differ across submarkets. Reach out to The Mastropieri Group or call (561) 544-7000.
Why is land winning at the highest end?
Mastropieri added: "I've felt this way for a long time, especially on the investment side. I would rather own the dirt and control the asset than own a unit in a condo building, where I have less control. Owning the land gives you flexibility, optionality, and potentially more long-term appreciation."
The single-family surge and condo softening pattern on Palm Beach Island is not a supply story. It is a buyer preference story. At the highest price points, buyers want control over their asset, the ability to renovate or rebuild without board approval, and the privacy that comes with estate-scale living.
This same dynamic is playing out across Palm Beach County's wealth corridor. The Manalapan to Highland Beach stretch saw single-family average prices rise 9% to $8.3 million, with total sales up 36% to 118 deals.
What is happening in West Palm Beach?
West Palm Beach single-family prices jumped dramatically. Brown Harris Stevens reported 140 sales with average prices up 52% to $1.9 million and price per square foot up 25% to $725. Corcoran reported 153 sales (up 21%) with average prices up 49% to $2 million.
The divergence in methodology produces different numbers, but the same directional conclusion: West Palm Beach single-family prices are up dramatically. The appreciation is driven by the same wealth migration dynamics affecting the broader region: executives, financial services professionals, and institutional capital relocating from the Northeast.
At $1.9 million to $2 million, West Palm Beach single-family represents the accessible entry point into the same demand wave driving Palm Beach Island. For buyers who cannot afford the island, West Palm Beach is participating in the regional appreciation cycle.
What should buyers and investors watch?
The Palm Beach Island single-family surge is heavily influenced by a handful of ultraluxury closings. If Q2 does not produce similar trophy sales, the average metrics will normalize downward. Watch for whether the pace continues or was a concentrated Q1 burst.
In-town condo softness is a structural concern. If wealthy buyers are choosing single-family over condos even at the $3 million to $5 million level, the condo market on the island faces a sustained headwind. South End condos (up 19%) may be the leading edge of a condo market recovery, which is worth tracking.
West Palm Beach single-family appreciation of 49% to 52% is significant but cannot be sustained at that rate indefinitely. Watch for whether the comps become an anchor that slows future sales velocity.
Watch More on This Topic
Watch: Palm Beach Market Split Segment ・ Full Episode: DSF Live Ep. 76 ・ Last Week's Recap: Ep. 75
Frequently Asked Questions
How did Palm Beach Island single-family homes perform in Q1 2026?
Palm Beach Island single-family sales volume rose 36% year-over-year, with average prices up 18% to $19.6 million and price per square foot reaching $3,674. Days on market improved to 136 days. A cluster of ultraluxury closings, including a $76.7 million off-market sale, drove the averages higher.
Why are Palm Beach Island condo prices falling despite higher volume?
Condo volume increased 39% to 110 deals, but average prices fell 14% to $2.4 million. The drop is concentrated in in-town condos (down 14% to $3.7 million average), while South End condos rose 19% to $1.5 million. Wealthy buyers are increasingly choosing single-family estates over condos at the highest price points.
How much did West Palm Beach single-family prices increase in Q1 2026?
West Palm Beach single-family prices jumped 49% to 52%, depending on the data source. Brown Harris Stevens reported an average of $1.9 million, while Corcoran reported $2 million. Both sources show the same directional trend of significant appreciation.
What is driving the single-family vs condo divergence in Palm Beach?
Ultra-high-net-worth buyers at the $10 million-plus level increasingly want land, privacy, and estate-scale living. The condominium product, even at high price points, is a lesser substitute for buyers who can afford either. This is a buyer preference shift, not a supply story.
Is the Palm Beach condo market recovering anywhere?
South End condos on Palm Beach Island averaged $1.5 million (up 19%), outperforming the in-town market. This may signal the beginning of a broader condo recovery on the island, though in-town product at $3.7 million average continues to face headwinds.
Local help for buyers and investors in Palm Beach County
If you are buying, selling, or investing anywhere in Palm Beach County, understanding how single-family and condo dynamics differ across submarkets matters. Reach out to The Mastropieri Group, Realtors®.
For practical, hands-on support across Palm Beach County, call (561) 544-7000.
Posted by Larry Mastropieri
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